The World Bank has named Aliko Dangote, President and Chief Executive of the Dangote Group, as a member of its Private Sector Investment Lab, an initiative focused on boosting job creation in emerging economies.
In a statement released today, Dangote expressed his acceptance of the role and reiterated his dedication to promoting sustainable economic growth through private sector-driven investments. He emphasized the significant impact such efforts can have in transforming developing markets.
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I am both honoured and excited to accept my appointment to the World Bank’s Private Sector Investment Lab, dedicated to advancing investment and employment in emerging economies
This opportunity aligns with my long-standing commitment to sustainable development and unlocking the potential of developing economies. Drawing inspiration from the remarkable successes of the Asian Tigers, which have demonstrated the power of strategic investment and focused economic policy, I am eager to collaborate with fellow leaders to replicate such outcomes across other regions, he said.
The World Bank announced Dangote’s appointment on Wednesday as part of a broader expansion of its Private Sector Investment Lab, which is entering a new phase focused on scaling up strategies to attract private investment and create jobs in developing countries.
Joining Dangote in this distinguished group are Bill Anderson, CEO of Bayer AG; Sunil Bharti Mittal, Chairman of Bharti Enterprises; and Mark Hoplamazian, President and CEO of Hyatt Hotels Corporation.
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Previously, the World Bank noted that the expanded panel brings together accomplished business leaders with a strong track record of fostering employment in developing economies, aligning with the institution’s renewed emphasis on job creation as a cornerstone of global development.
World Bank Group President Ajay Banga said;
With the expanded membership, we are mainstreaming this work across our operations and tying it directly to the jobs agenda that is driving our strategy.
This isn’t about altruism, it’s about helping the private sector see a path to investments that will deliver returns and lift people and economies alike. It’s central to our mandate.
In 2023, Mark Carney, former Governor of the Bank of England and current UN Special Envoy on Climate Action and Finance, co-chaired the Private Sector Investment Lab, which aimed to mobilize £1 trillion in sustainable investment to advance the energy transition in emerging markets.
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